Eternal Shares Fall Amid Heavy Selling
For Eternal Ltd, the owner of Zomato and Blinkit, it was an uneasy Tuesday as its stock lost 5.3% to ₹282.65, which eliminated the thrill of a three-day winning streak. The stock started its day lower at ₹298.20, and the selling pressure became more intense than a Zomato delivery during lunch hour in the blink of an eye. This sharp fall during the day, the worst since July, has investors very anxious, and they are pondering if the giant in the platform is already experiencing turbulence in its growth story. Zomato is still delivering your meals on time, but the shares of its parent company seem to have taken a different road today, serving up losses instead of profits.
Trading Volumes Surge And Recent Block Deals For Eternal Shares
- Eternal Ltd stock has lost 4% in December so far, while for the year it is marginally up by 3.43%.
- As of 1:30 PM, a total of 43.9 million shares had changed hands on both BSE and NSE, double the daily average trading volumes.
- Last week, a large block deal occurred with 5.3 crore shares (about 0.54% of equity) changing hands, marking another major transaction this year.
- In mid-November, two block deals involved nearly 90 lakh shares worth ₹279.25 crore.
- In June, 60.93 lakh shares were traded at an average price of ₹256, totaling ₹156 crore.
- The steady flow of large deals highlights sustained institutional interest, driven by rapid scale-up and growth momentum of Blinkit, Eternal’s quick-commerce business.
Eternal Shares Have Been Under Pressure Since Their Peak
The shares of Eternal Ltd have been experiencing a gradual decline after reaching their highest point of ₹368 in October last year. The decline got worse when the government newly introduced labor codes.
The market is now worried about the profits being pinched and is doing some nervous calculations on the impact of the new rules that entail sharing 1–2 percent of the annual turnover by the aggregators, with a maximum of 5 percent of the gig and platform workers’ total pay being paid as contributions.
Investors are coming to the conclusion that while Zomato and Blinkit are consistently providing meals and groceries right on time, the parent company’s stock has a different delivery schedule, and today it looks like delivering compliance costs rather than profits.
Eternal Ltd: Costs, Customers, And The Gig Economy
| Topic | Details |
|---|---|
| Brokerages Expect Costs to be Passed to Customers | Brokerages expect both companies to gradually pass on most of the additional cost to customers. A ₹2–₹3 increase per order is unlikely to materially affect user behaviour, given recent absorption of similar platform fees. |
| Growth of India’s Gig Economy | India’s gig economy has ballooned over the past decade, driven by the proliferation of online commerce and marketplaces such as Zomato, Swiggy, Uber, Amazon, and Flipkart. |
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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